AVZ Discussion 2022
- Thread starter GazDix
- Start date
In response to the findings of the DRC General Inspectorate of Finance, AVZ confirms:
• AVZ acquired valid and legal title to the 60% of shares issued in Dathcom, including, for the avoidance of doubt, as a consequence of the waiver of any rights of Cominiere and Dathomir under the Dathcom JVA by virtue of their entry into that same agreement;
• following AVZ’s acquisition of its initial 60% of shares issued in Dathcom, AVZ performed the funding obligations under the Dathcom JVA; and
• neither it nor any of its representatives had any involvement in, nor any prior knowledge of, the transfers of mining exploration permits 12436, 12449 and/or 12450 to any third party.
Samus
Top 20
Exactly, none of this was even seen to be an issue before this IGF report. We are now deeper in this mire of shit on top of numerous other problems.
What is the way out? More legal battles? Ffs.
Happy fucken Christmas.
Toad of shit bog marsh is squealing like a stuck pig and spreading disinformation throughout the media on top of it all.
8 months of suspension for this shit. Worse and worse shit.
Got any gos fox?
I think IGF acknowledges the transfers are definitive and irrevocable as per their mining code. Was the transfer done following the process? That's a different story. Hence, why the DG of Comminere and Adele Kayinda must face justice. AVZ has gone further in this announcement by clarifying when they acquired the initial 60% shares in Dathcom, all parties agreed to waiver of any rights of Cominiere and Dathomir under the Dathcom JVA by virtue of their entry into that same agreement.
Yep, unfortunately the IGF report has highlighted the illegal transfer of 60% of Dathomir's shares to AVZI and also noted (obviously) that the Dathormir share sale did not benefit Comineire.
AVZs announcement seems to confirm this:
- Dathomir failed to comply with its obligations under the incorporated joint venture agreement in respect of Dathcom Mining SA (Dathcom) dated 27 January 2017, as amended from time to time (Dathcom JVA)
So despite the company's insistence that we have good leagal title to 60% + first rights over a additional 15%, it now looks like our original 60% stake is being officially called into question.
The last part of the announcement pertaining to "valid and legal title to the 60% of shares issued in Dathcom, including, for the avoidance of doubt, as a consequence of the waiver of any rights of Cominiere and Dathomir under the Dathcom JVA by virtue of their entry into that same agreement" is basically saying they still believe that legally they have title to the 60% due to the articles of the Dathcom JVA waiving Dathomirs rights...
Most definitely not a cut and dry situation - we'd want some big dick lawyers on this one imo.
Cheers,
Powerage.
Samus
Top 20
I'm not seeing that in the report just this:
Despite holding 75% of the shares, the partner DATHOMIR was not, in spite of everything, able to mobilise the expected financing, but preferred, only two months after having benefited from the transfer of 5% of the shares of COMINIERE S.A., to sell 60% of the shares to AVZ International in violation of the provisions of the joint venture contract in its article 16 point (f) concerning its commitments and according to which, it could not transfer its shares before the date of the commercial production.
The following response was to address the above:
AVZ acquired valid and legal title to the 60% of shares issued in Dathcom, including, for the avoidance of doubt, as a consequence of the waiver of any rights of Cominiere and Dathomir under the Dathcom JVA by virtue of their entry into that same agreement;
Attachments
Last edited:
By the time this is all over Nige will have made another 500k to 1m in salary while we have been powerless in watching our share value destroyed.
No wonder Nigel has kept his AJN shares….
Time to write this one off for the year at least lads and ladettes. At this stage I’ll be stoked to get 50c a share back from here…..
Bah Humbug
No wonder Nigel has kept his AJN shares….
Time to write this one off for the year at least lads and ladettes. At this stage I’ll be stoked to get 50c a share back from here…..
Bah Humbug
Is it me or are we not reading the same report?
The report has been available since April this year, why is AVZ only addressing it now? Maybe they feel the time is FINALLY right and the #FinalAssault Landry Meya was referring to. I could be wrong, but I hope Fatish has the backbone to turn this corruption around.
The report has been available since April this year, why is AVZ only addressing it now? Maybe they feel the time is FINALLY right and the #FinalAssault Landry Meya was referring to. I could be wrong, but I hope Fatish has the backbone to turn this corruption around.
Misfits
Regular
Hey Jag, I maybe missing something, but I don’t understand what you are saying.75 % GOOD LEGAL TITLE NIGEL!!!!
Another lie mother fucker and I know where you live...yes I am known for Doxing those who fuck me over!!!!!
Start court proceedings now against the BoD! I am not prepared to pay any of you MF's any more money in wages for such a piss ant job.
Mickyb64
Regular
Is it me or are we not reading the same report?
The report has been available since April this year, why is AVZ only addressing it now? Maybe they feel the time is FINALLY right and the #FinalAssault Landry Meya was referring to. I could be wrong, but I hope Fatish has the backbone to turn this corruption around.
Similar threads
